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by Im Alec has abandoned this account on November 17th, 2009
And how do you decide "value added"? One of the problems with Communism was they they didn't allow for value added by trade. Having the right thing in the right place adds value - compare a glass of water in the desert and in the lake. The same applies in financial systems: moving money from savers to borrowers adds value. Of course, there are transactions that do not add value - but I challenge you to find a legal definition of them.
by evandad on November 17th, 2009
I don't understand the question, but 90% tax is ridiculous for any reason.
by Thriftymaid on October 22nd, 2010
DISAGREE!!!!!!!!!!!!!!
by TWIST on November 17th, 2009
90% is outrageous. Why tax the smart guy so much? If there is potential to make money off of money, then why be penalized?
by Old School on November 17th, 2009
In principle, yes.
In practice, I'm not sure how this could reasonably be applied.
To me, a Rolex watch that costs $umpteen thousand but doesn't tell time any better than a $69.95 digital watch (radio-synchronized to the NIST atomic clock) has ZERO additional value.
To the man wearing the Rolex as a bit of 'conspicuous consumption', he probably finds the female attention he attracts from it quite valuable and worth the purchase price.
On what 'value' basis should the Rolex be taxed?
I agree with your goals, but I think we need different tactics to accomplish them.
by Ron C on November 17th, 2009
I assume that you are talking about people like day traders that do nothing but move money around in the stock market. If that is the case then I totally agree. Those people are nothing but gamblers and parasites on productive society.
Can you reclaim VAT?
by Answerbag Staff on July 7th, 2010
| 1 person likes this
What is a VAT return?
by Answerbag Staff on July 6th, 2010
| 1 person likes this
Please explain what goods are exempt from VAT altogether and what attracts a reduced rate
by John_T3082 on December 19th, 2010
| 1 person likes this
When do you pay VAT?
by Answerbag Staff on July 6th, 2010
| 1 person likes this
I live in arkansas and want to buy a camera that cost $114.88 how much would that be with tax?
by Anonymous on June 14th, 2009
| 1 person likes this
You're reading My opinion: Money made without value being added should be taxed at 90%. Agree? Disagree?
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Comments
Check out some of the discussions in the other answers.
I'm not a lawyer but I'm sure it could be done.
by mrrw on November 17th, 2009